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- The Pi Network is set to unlock $139 million worth of tokens this month, an event that’s raising concerns about how it could impact the value of PI.
- Experts forecast that the PI price can reach $5 in June, but these projections are subject to network adoption, utility, and overall market conditions.
The Pi Network is experiencing a make-or-break time in 2025, with token unlocks reaching massive volumes month after month. In April, as per Crypto News Flash, approximately 21.4 million PI tokens were unlocked. In May, the volume increases to over 234 million PI, valued at approximately $139 million. In June, a slightly smaller volume of 222.6 million PI will be unlocked, valued at approximately $132.9 million. In July 2025, the volume increases again to 233.3 million tokens.
To date, the total unlocked PI is a staggering 4.98 billion tokens, valued at $2.97 billion, and this is not slowing down; another 1.43 billion tokens are to be unlocked over the next 12 months.
These unlocks are having a noticeable effect on PI’s price performance. After attaining an all-time high of $2.98 in February 2025, PI has since lost over 79.98% of its value. The primary driver? Oversupply. With additional tokens in circulation, selling pressure has increased, flooding the market and driving prices lower.
Despite the bearish sentiment, some analysts remain cautiously optimistic. CoinCodex predicts that PI could climb by 241% to $2.04 by the end of May, depending heavily on catalysts like a major exchange listing.
PI is currently trading at $0.5966, losing 2.38% in the past 24 hours and 8.90% in the past week. The trading volume for the token has also fallen by 51.68% to around $60.68 million. Nevertheless, community participation remains high, a sign that there is continued interest in the project.
Ecosystem Expansion
In February of 2025, Pi Network launched its open mainnet, allowing users to transfer, trade, and spend PI in a peer-to-peer setting. That was a monumental achievement, yet there is much more to unfold.
Notably, the PI network founder, Nicolas Kokkalis, will speak at Consensus 2025 in Toronto, which will begin on May 14 to May 16. The community is expecting potential announcements of new decentralized applications or Know-Your-Business (KYB) approvals, which can further legitimize the network and build confidence.
The Pi Network community continues to create utility in the system. The newly added Pi Ad Network enables advertisers to purchase ad space using PI, and app developers get paid in PI for showing such adverts within their apps.
Another promising development is the launch of Pi Domains, which are blockchain-based domain names that bring the project one step closer to making PI a truly usable digital currency in the real world. But even as progress is achieved, one underlying challenge still remains to be solved: PI is not yet listed on popular exchanges like Binance. Lack of exposure severely limits both liquidity and market visibility, which are the two crucial things needed for the token’s price to rise sustainably.
